The wheat complex is showing strength on Friday. Chicago SRW futures are trading with 13 to 15 cent gains at midday. KC HRW futures are 17 to 19 cents in the green at midday. MPLS spring wheat are up 14 to 15 ¼ cents on the day. Crude oil is back up just $3.03 this morning, though more than $5 off the overnight highs following the breakdown of US/Iran negotiations this weekend.
USDA’s FGIS tallied wheat export shipments at 320,797 MT (11.79 mbu) during the week ending on April 9. That was 6.44% below the week prior and 47.62% below the same week last year. Mexico was the top destination of 113,955 MT, with 52,812 MT headed to Philippines and 55,246 MT to Taiwan. Marketing year exports for 2025/26 are 21.026 MMT (1.127 bbu) since June 1, which is now 14.64% above the same period last year.
Commitment of Traders data showed CBT wheat specs flipping back to a net short of 5,633 contracts by a move of 14,274 contracts in the week ending on April 7. In KC wheat, managed money was net long 15,608 contracts, a 5,909 contract reduction on the week. MPLS wheat spec funds extended their record net long by 205 contracts to 20,361 contracts.
May 26 CBOT Wheat is at $5.85 3/4, up 14 3/4 cents,
Jul 26 CBOT Wheat is at $5.94 1/2, up 13 3/4 cents,
May 26 KCBT Wheat is at $6.09 1/2, up 18 3/4 cents,
Jul 26 KCBT Wheat is at $6.22 1/4, up 17 1/4 cents,
May 26 MIAX Wheat is at $6.26 3/4, up 15 1/4 cents,
Jul 26 MIAX Wheat is at $6.41 1/2, up 14 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
